March CPI increases to 3.2%

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Statistics South Africa has released the Consumer Price Inflation (CPI) rate for March, which has come in higher at 3.2% year-on-year from 2.9%  in February.

However, on a month-on-month basis, the CPI was unchanged at 0.7% in March.

The main contributors to the 3.2% annual inflation rate were food and non-alcoholic beverages; housing and utilities; transport; and miscellaneous goods and services.

Food and non-alcoholic beverages increased by 5.7% year-on-year and contributed 1.0 percentage point to the total CPI annual rate of 3.2%.

Housing and utilities increased by 2.2% year-on-year and contributed 0.5 of a percentage point.

Transport increased by 3.8% year-on-year and contributed 0.5 of a percentage point.

Miscellaneous goods and services increased by 4.0% year-on-year and contributed 0.7 of a percentage point.

The annual inflation rates for goods and for services were 3.9% and 2.6% respectively.

Provincial annual inflation rates ranged from 3.1% in Gauteng and Mpumalanga to 3.7% in North West and Limpopo.

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